Britain has climbed higher up the rankings of the world’s most competitive
economies, according to a leading think-tank.

The World Economic Forum, which assesses factors such as innovation by
businesses and labour market flexibility, said that the UK had been rated
the eighth most competitive nation in the world, up from tenth last year. It
overtook Japan and Denmark in the rankings, leaving it behind the United
States, which took seventh place. Switzerland was again rated the most
competitive economy, followed by Singapore, Finland and Sweden.

Britain benefited from signs of recovery in its financial sector and the
efficiency of